Recently, China Foreign Economy and Trade Trust Co., Ltd., a subsidiary of Sinochem Group, acting as trustee for Shanxi Luxin Energy Resources Group and Jiexiu Luxin Coal Gasification Co., Ltd., completed three issues for a trust financing program, raising RMB180mln, RMB300mln and RMB1.2bn respectively, or RMB1.68bn in total. A Dacheng team composed of senior partner Xu Yongqian, attorney Wang Dehui and Taiyuan-based partner Zhu Yubin provided comprehensive legal counsel for the three rounds of trust financing.
 
Shanxi Luxin Energy Resources Group, located in the Luxin Circular Economy Industrial Park of Jiexiu, is a giant private enterprise operating in a variety of sectors, including coal, coke, electricity, chemicals, high-grade refractory materials, carbon products, tourism, and property development. It is one of the 77 large enterprises that the government of Shanxi is committed to support. Jiexiu Luxin Coal Gasification Co., Ltd., its subsidiary, is one of the strongest enterprises surviving the province’s integration of coal resources. At a time when the integration of coal resources is speeding up, the issuance involved in the trust program will help the group grab upstream resources and prepare sufficient fund for its mid- and down-stream companies. In so doing, the overall strength and standing of the group will substantially improve.